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But if you let PRICES OF ESSENTIALS RISE, well, you are going to have a lot of unhappy people. So what do you do as a government? Hmm...Let's see, I say a combination of the following: 1) Protectionism to shield yourself as in shut exports of refined products and fertilizers (eg. China, Thailand etc) 2) Raise prices because if you don't your budget will turn bad via both price and volume hitting it. 3) But not too high so you still have to subsidize some. I would then think of countries that have more buffer to subsidize vs those that don't to mitigate the fallout. 4) Obviously you can't raise price high enough to DESTROY DEMAND because you have key sectors and the population revolting so you do TARGETED SHUTDOWN. Like Covid, you know, work from home, maybe not everyday but maybe 1 day a week for government workers of everyday for some. 5) You incentivize public transport (the Philippines). 6) Create a taskforce to come up with ways to get supply and do a supplementary budget (richer economies like Japan, Korea etc) 6) Stabilize FX via interventions (sell gold and other liquid assets) 7) Finally HIKE RATES even when growth is on the downward trend.